NeoVolta Listed as One of the Most Affordable Residential Energy Storage Systems by EnergySage

NeoVolta’s NV14 Installed Cost per kWh Lower than 20 Other Listed Brands in the Solar Marketplace Intel Report

SAN DIEGO, April 12, 2022 (GLOBE NEWSWIRE) -- NeoVolta Inc. (OTCQB: NEOV, “NeoVolta”), manufacturer of Smart Energy Storage Solutions, announced that its NV14 energy storage system has been listed as one of the most affordable solar batteries in the U.S. in EnergySage’s latest semiannual Solar Marketplace Intel Report. The report analyzed millions of data points generated by quotes sent to U.S. homeowners shopping on in 2021 for solar panels and storage systems.

NeoVolta’s NV14 cost per kilowatt-hour was lower than 20 other listed brands in the report, beating out several high-profile brands such as Sonnen, Enphase Energy, LG Energy Solution, Generac, Panasonic, and SunPower. Tesla was the least expensive option on the basis of installed cost per kilowatt-hour stored. NeoVolta came in a close second, at 2.6% higher than Tesla. The optional NeoVolta NV24 add-on battery (not included in the EnergySage report) expands the NV14’s high storage capacity from 14.4 kWh to 24.0 kWh, making it an even more cost-effective option than the Tesla Powerwall.

Besides cost per kWh, there are other factors to consider when purchasing an energy storage system, including the inverter power, battery life, safety, and compatibility. NeoVolta’s 7.7 kilowatts of continuous power discharge is about 50% higher than most competitors in its class, so it can handle more electrical loads simultaneously. Its battery life of 6,000 cycles, one of the highest on the residential energy storage market, translates to 16.5 years of useful life (50% longer than ordinary 4,000-cycle batteries). NeoVolta storage uses safe, nonflammable lithium iron phosphate battery technology and is compatible with any solar system—new or existing, AC or DC.

“Installed cost per kilowatt-hour is an important consideration, and we’re very pleased to have our NV14 ranked number two out of 22 brands by EnergySage,” said Brent Willson, CEO of NeoVolta. “But if you compare us against number one, there’s much more to the story. The NeoVolta NV14 has a more powerful inverter, a higher storage capacity, and a longer life span—all with an advanced battery chemistry that’s engineered for safety. On top of that, the NV14 can be upgraded to an NV24 to get to a lower kWh cost than the Tesla Powerwall.”

About NeoVolta - NeoVolta designs, develops and manufactures utility-bill reducing residential energy storage systems capable of powering your home even when the grid goes down. With a focus on safer Lithium-Iron Phosphate (LiFe(PO4)) chemistry, the NV14 is equipped with a solar rechargeable 14.4 kWh battery system, a 7,680-Watt inverter and a web-based energy management system with 24/7 monitoring. By storing energy instead of sending it back to the grid, consumers can protect themselves against blackouts, avoid expensive peak demand electricity rates charged by utility companies when solar panels aren’t producing, and get one step closer to grid independence. Customers can expand the NV14’s capacity to an industry-leading 24.0 kWh with the optional NeoVolta NV24 add-on battery. NeoVolta has added generator compatibility and is working on other industry leading improvements that will be announced soon.

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Forward-Looking Statements: Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the future performance, reliability and safety of NeoVolta’s NV14 storage system and the ability of the NV14 to be successfully integrated with residential backup generators. Although NeoVolta believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. NeoVolta has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under the "Risk Factors" section of NeoVolta’s Form 1-A filing filed with the Securities and Exchange Commission ("SEC") and updated from time to time in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. NeoVolta undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.